01 / Score factor
Financeability
Can the asset support efficient debt?
What Reitzel checks
Debt path, DCR cushion, lender fit, equity required, and cash flow after debt.
SourceUnderwriteScoreMatch
A disciplined acquisition filter for serious multifamily investors.
We use the Reitzel Score framework to review each opportunity against six weighted factors and resolve that first-pass read into one acquisition-priority signal between 0 and 100.
How our scoring works
Six underwriting checks. One acquisition priority score.
The Reitzel Score is a 0-100 acquisition-priority signal for active multifamily opportunities. It compares financeability, income upside, entry basis, downside protection, exit liquidity, and file confidence to show where deeper diligence should begin.
02 / Score factor
Income Upside
Is there real NOI lift?
What Reitzel checks
Current rent position, market-rent evidence, stabilized NOI lift, and capture path.
03 / Score factor
Entry Basis
Are we buying with room to win?
What Reitzel checks
Cap rate, price per unit, supportable value, yield on cost, and pricing pressure.
04 / Score factor
Downside Protection
What happens when assumptions miss?
What Reitzel checks
Interest rate, exit cap, expense, vacancy, rent-delay, CapEx, and loan-proceeds stress.
05 / Score factor
Exit Liquidity
Can it lease, finance, operate, and sell?
What Reitzel checks
Tenant demand, buyer depth, unit-count fit, market liquidity, and local operating support.
06 / Score factor
File Confidence
How reliable is the package?
What Reitzel checks
Rent roll, expenses, source documents, financing assumptions, and open-item clarity.
How to read the score
The score points to the next diligence decision.
A score is not a guarantee or a shortcut around verification. It helps separate files that deserve deeper review from files that need better pricing, better data, or a stronger financing path.
85-100
Top Priority
High-priority pursuit after final verification.
72-84
Strong
Worth deeper underwriting and buyer review.
60-71
Thesis-Dependent
Could work if pricing, data, and financing support the thesis.
45-59
Watchlist
Revisit after a price cut, better data, or stronger financing.
0-44
Low Priority
Not worth meaningful time unless key assumptions change.
How Reitzel uses the score
Before a deal reaches investors, it has to survive the first pass.
We use the score to turn scattered deal flow into a disciplined acquisition pipeline. Each opportunity is sourced, normalized, pressure-tested, ranked, and matched before it earns deeper diligence or investor attention.
01 / Source
Find the file.
Listings, owner conversations, partner referrals, and private leads enter one acquisition review lane.
02 / Normalize
Clean up the numbers.
Income, expenses, vacancy, repairs, NOI, and pricing are reviewed before the score is treated as useful.
03 / Pressure-test
Test the debt path.
Supportable leverage, DCR cushion, equity required, and cash flow after debt shape the first-pass read.
04 / Match
Route the right conversation.
The score helps Reitzel decide what deserves deeper diligence and which investors should see it first.
Reitzel Score model version: v5-streamlined-six-category. Public v1 explainer for the six-category underwriting model.
Score factors: Financeability, Income Upside, Entry Basis, Downside Protection, Exit Liquidity, File Confidence.